Risk assessment of option performance for new product and process development projects in the chemical industry: a case study

Abstract

This paper presents as a case study, empirical research forming part of a large EPSRCfunded project to decrease new product and process development times within the UK fine chemicals industry. The work aimed to design a decision support system to evaluate competing options in such development projects. Theoretical and practical contributions from academic and industrial collaborating groups were integrated using Action Research. High levels of risk when bringing new products to market or new processes on line means that risk assessment features significantly when evaluating different project options. A key research target, and the concern of this paper, is the design and use of a risk assessment tool (RAT) to fit the context of the overall decision support system. Collectively the tools enabled the options within individual projects to be evaluated on risk and other performance dimensions. Industrialists provided a number of comprehensive case studies to test the suite of tools. Theoretical and empirical implications are discussed.

A MCDM approach to assessing NPD problems

“…The first step implied the identification of potential problems (risk factors) encountered during NPD process. Based on the review of the relevant literature (Shaw et al, 2005;Teller & Kock, 2013;Bowers & Khorakian, 2014;Oehmen et al, 2014;Thangamani, 2016) and the study of the specificity of NPD process, the basic problems that had a significant influence on the success of this process were identified and a list of them was made. The experts involved in the evaluation process extracted the problems they had encountered in the new product development processes which they participated in out of the established list of potential problems.…”

“…Within the current NPD literature, there are many researches who are focused on discovering and analysing the problems that NPD teams are faced with during the new product development process, which on their part significantly influences the success of these processes (Shaw et al, 2005;Choi & Ahn, 2010;Colvin & Maravelias, 2011;Gon & Choi, 2012;Ahmad et al, 2013). Park et al (2011) also indicate that the problems that may occur during NPD need to be recognized and their impact on the success of the NPD needs to be measured, too.…”

Gerenciamento de riscos aplicado como estratégia corporativa para projetos de desenvolvimento de novos produtos na indústria química

“…Gerenciamento de riscos é o uso de um conjunto de habilidades de um indivíduo ou grupo de indivíduos que garantem que todos os eventos de risco sejam identificados, quantificados e tratados para o projeto (PMI, 2017). Para novos projetos de desenvolvimento de produto, fontes de risco se encaixam na categoria de 'operações', que inclui os aspectos de risco técnico decorrentes, tais como: tecnologias de processo e equipamentos, qualidade do produto/processo e segurança, saúde e meio ambiente (Shaw, Burgess, & De Mattos, 2005).…”